RUSSIA: Sun Interbrew interested in Patra - report
Sun Interbrew is considering buying a majority stake in Patra Brewery, according to press reports. Russia's second-largest brewing group is pondering the acquisition of 50.56% of Patra, situated in the Urals, for between US$50m and $75m, Vedomosti newspaper reported yesterday.
Patra is currently owned by its management, and holds around 1% of the market share in Russia. SUN Group, a shareholder in Sun Interbrew, owns about 25% of Patra.
Vedomosti says that PIT, Russia's sixth-largest brewery, is to bid against Sun Interbrew.
In December last year, Sun Interbew reported third-quarter net profits of €19.1m, a leap of 71% on the same period last year.
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